ALS | Resolvion Announced Repo Backed Collection Support Service
ALS | Resolvion, a leader in providing loss mitigation and collateral recovery services to commercial lenders, announced today a new collection support service designed to help lenders reduce delinquencies and deficiency balance charge offs.
The service is intended to be used in the later stages of a lender’s internal collections process. Rather than sending the account out for collateral repossession or legal pursuit, authorized collectors/manager’s would first send the account to ALS | Resolvion as a Collections Support Assignment. The service is also far more effective than a traditional “door knock” service because it incorporates ALS | Resolvion’s advanced skip tracing services and it is backed by a credible threat of asset repossession.
“A large percentage of the involuntary repossession assignments we receive end up being resolved without repossession. The introduction of a skilled third party, who has the authorization and ability to repossess the asset, is often times enough to get a debtor to respond positively to the situation despite their unwillingness to do so previously. Third party involvement at this crucial stage really makes a difference” says Michael Levison, ALS | Resolvion’s CEO.
The service offers the lender a number of important benefits:
- It is far less expensive than an actual repossession. Fees are all contingent on success.
- Deep skip tracing is included in the contingent fee schedule
- Avoids the considerable expense involved in pursuing legal remedies
- Avoids the cost and deficiency loss risk associated with remarketing repossessed assets
For more information on service, please contact Michael Levison at 203-402-3531/mlevison@consumerfs.com or Alan Zeppenfeld at 678-828-8135/azeppenfeld@resolvion.com
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ALS | Resolvion (formerly Consumer Financial Services, Inc.) is a 15-year old collateral recovery firm that provides deep skip trace and repossession services to both commercial and consumer lending institutions. The company’s client list includes several of the largest consumer and commercial lenders in the country. For more information visit https://resolvion.com.